posted
American Skiing Company (OTCBB: AESK - News) announced today that it had entered into a definitive agreement to sell its subsidiary ASC Utah, Inc., the owner and operator of The Canyons resort, located near Park City, Utah, to Talisker Canyons Finance Co. LLC, an affiliate of Talisker Corporation, for $100.0 million in cash. The purchase price is subject to various adjustments, as outlined in the purchase agreement. The transaction is not expected to result in any change in the status of currently pending litigation between The Canyons and Wolf Mountain (a landlord at The Canyons). The announced sale represents the planned disposition of the last major resort asset of American Skiing Company.
-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound
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Holders of our Common Stock and Class A Common Stock are not expected to receive any payment or distribution with respect to their shares pursuant to our plan of dissolution after we make payments to our creditors and the holders of our Series C Preferred Stock.
-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound
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probably being hyped to death on other boards, with 31 million shares out the sale would make it worth almost 3 bucks a share the problem is the company has already stated common share holders will recieve NO distributions from the liquidation of assets, it`s all going to debt service and preffered stock holders. when the assets are gone so is the company!----------------------- " American Skiing's majority preferred stockholder pushed for the company's liquidation. Still, New York-based private equity firm Oak Hill Capital Partners won't recover its entire investment in American Skiing, company executives said.
Common stockholders will get nothing as American Skiing dissolves and lets corporate employees go, said David Hirasawa, the company's investor-relations director
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quote:Originally posted by madmoney: probably being hyped to death on other boards, with 31 million shares out the sale would make it worth almost 3 bucks a share the problem is the company has already stated common share holders will recieve NO distributions from the liquidation of assets, it`s all going to debt service and preffered stock holders. when the assets are gone so is the company!----------------------- " American Skiing's majority preferred stockholder pushed for the company's liquidation. Still, New York-based private equity firm Oak Hill Capital Partners won't recover its entire investment in American Skiing, company executives said.
Common stockholders will get nothing as American Skiing dissolves and lets corporate employees go, said David Hirasawa, the company's investor-relations director
That's the way I read it last week. It's amazing. Train wreck waiting to happen. I hope people don't get greedy and take their profits because this one is destined to fall hard.
posted
Saw a 30k share trade at .20, now that takes balls to throw 6 grand at a stock that's up 1500% at the time...whatever happen to the good 'ol days of buy low, sell high? This one is setting up to be BRS (Bagholders R Us) special
-------------------- I may be wrong, but I don't think so....
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quote:Originally posted by BULListic: Saw a 30k share trade at .20, now that takes balls to throw 6 grand at a stock that's up 1500% at the time...whatever happen to the good 'ol days of buy low, sell high? This one is setting up to be BRS (Bagholders R Us) special
i didn't see this till dollar mentioned it on another thread ~ stayin clear myself.
WTG for those that caught it. Good luck to those that hold it overnight.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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quote:Originally posted by PCola77: Isn't that what we "hear" on EVERY stock?
Wouldn't a short be mildly retarded to cover a stock that is supposed to be 100% worthless in a few days?
if it's gonna be worthless, then wouldn't shorts short it to hell(and maybe they are, but from the look if it, not likely)?? that's what i don't get, so do they have to cover to balance paper work or if there is any...
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AESK from SEC filing: Holders of our Common Stock and Class A Common Stock are not expected to receive any payment or distribution with respect to their shares pursuant to our plan of dissolution after we make payments to our creditors and holders of our Serries C Preferred stock.
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posted
Vail Resorts Ups Offer For Amer Skiing's ASC Utah Unit Monday 09/10/2007 6:04 PM ET - Dow Jones News DOW JONES NEWSWIRES Vail Resorts Inc. (MTN) on Monday sweetened its $110 million cash offer for American Skiing Co.'s (AESK) ASC Utah unit, adding a 30% stake in the net cash flow from the unit's real estate. The offer competes with ASC's announcement in July that it agreed to sell The Canyons, a ski resort in Utah, to Toronto-based Talisker Corp. for $100 million. In a letter filed with the Securities and Exchange Commission, Vail Resorts said the 30% stake could provide up to $650 million to American Skiing in incremental cash through 2020. Vail Resorts, Broomfield, Colo., said that in addition to the 30% stake, it will match the indemnity agreement and deposit that Talisker provided in its agreement with ASC. -Ed Welsch, Dow Jones Newswires; 202-862-1356; edward.welsch*dowjones.com
> Dow Jones Newswires 09-10-07 1803ET Copyright (c) 2007 Dow Jones & Company, In
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